Global working capital finance provider Greensill has acquired receivables financing and securitisation firm Finacity for an undisclosed amount.

Greensill, which recently landed a US$800mn investment from Softbank, valuing it at US$3.5bn, has extended US$50bn of working capital financing to a pool of 1.7 million suppliers in 60 countries in the seven years since its inception. With the acquisition of Finacity, Greensill now adds receivables securitisation capabilities to its offering.

Finacity currently facilitates the financing and administration of approximately US$100bn of receivables annually in more than 175 countries, with clients ranging from large multinational shipping companies to micro-finance loan branches in Latin America.

As per the terms of the deal, Finacity will become a wholly-owned subsidiary of Greensill, but will continue to deliver its services as a distinct operating company, led by Adrian Katz.

“By combining Finacity’s core securitisation expertise with Greensill’s broad range of financing solutions and deep, diversified funding sources, the partnership will enable a superior and comprehensive set of best-in-class financing solutions to solve an even broader range of client needs,” the two companies said in a statement.

Speaking at the signing of the deal, Lex Greensill, founder and CEO of Greensill, says: “The addition of Finacity’s securitisation capabilities will be of immediate value to our global client base as we will leverage the platforms and leadership teams of both companies to enhance our joint capabilities.”

The acquisition comes amid a hiring spree by Greensill that has most recently seen it open new offices in Singapore, São Paulo and Johannesburg as it seeks to further expand around the world.